China’s first prosecution for illegally acquiring digital wallet keys sets a legal precedent.
Xuhui District introduces guidelines for handling virtual currency in criminal cases.
Guangqi X Space aims to tackle cybercrimes, focusing on AI, blockchain, and digital assets.
The Xuhui District Procuratorate has announced China’s first case involving the illegal acquisition of digital wallet private keys, marking a significant step in the legal handling of virtual currency crimes.
During the establishment ceremony of Guangqi X Space, an initiative dedicated to combating and punishing new types of cybercrimes, the Xuhui District Procuratorate, in collaboration with the Xuhui District Public Security Bureau, introduced guidelines for the standardization of virtual currency disposal in criminal litigation.
The first case of illegally acquiring digital wallet private keys in China involved three individuals, including a man identified as Liu. These criminals conspired to implant a backdoor in an application package containing a virtual currency wallet, allowing them to obtain 27,622 mnemonics and 10,203 private keys illegally.
Using this data, they were able to …
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